"Critics argue that giving amnesty to 12 to 30 million illegal aliens in the U.S. would have an immediate negative impact on America’s working and middle class — specifically black Americans and the white working class — who would be in direct competition for blue-collar jobs with the largely low-skilled illegal alien population." JOHN BINDER

“A more recent national survey by the Federal Reserve, based on 2013 data, suggests the problem has not only persisted as the economy recovered but may even have worsened. More than 30 percent of Americans reported spikes and dips in their incomes. Among that group, 42 percent cited an irregular work schedule; an additional 27 percent blamed a span of joblessness or seasonal work.”

“In the two advanced countries with the greatest income inequality, Spain and the United States, job losses and wage cuts accounted for nearly all the increase in inequality.”

“The Bureau of Labor Statistics’ March job’s data released Friday — as in previous months — again shows that net employment growth in the U.S. since the beginning of the recession has gone to foreign-born workers.”

“From the beginning of the recession in December of 2007 through March of this year, while the native-born population has experienced a net decline in employment, their foreign-born counterparts have experienced a net increase.”

OBAMA IN SELMA: Is it his biggest hoax and lie to date?

"The lies and demagogy in Obama’s Selma speech cannot conceal the huge class gulf between the government he heads and the self-sacrificing workers and youth who led the fight for civil rights. They fought for equality. He represents privilege."

Capitalism, the working class and the fight against police violence

1 May 2015

The events in Baltimore, Maryland following the police killing of 25-year-old Freddie Gray mark a political turning point in the United States. The enormous class divide in America, the bankruptcy of the entire political system and the collapse of democratic forms of rule—all have been laid bare by this latest act of state brutality and the military-police mobilization against the eruption of social anger.
In recent days, thousands of people have participated in demonstrations in Baltimore, New York, Philadelphia and other cities throughout the country. Further protests will take place today and over the weekend. While the police violence is the immediate spark, far deeper issues are involved: mass unemployment, poverty, the decay of cities and social infrastructure, and unprecedented levels of social inequality.

The entire political superstructure has responded to the unrest in Baltimore by backing the deployment of thousands of troops from the National Guard, a branch of the armed forces. Baltimore, only 40 miles from the nation’s capital, has effectively been occupied, with heavily armed units placed in key public locations throughout the city, accompanied by armored vehicles and military helicopters. A state of emergency has been declared, and a curfew imposed on all residents.

The actions in Baltimore come half a year after the crackdown in Ferguson, Missouri last August, when the city was turned into a war zone in response to demonstrations over the police killing of Michael Brown. The state violence was repeated later in the year, following a rigged grand jury proceeding that exonerated Brown’s killer.

The irony is hard to miss. The United States government, which wages war all over the world on the phony pretext of defending “democracy” and “human rights,” increasingly relies on the methods of martial law in response to any indication of social unrest within its borders.

Conditions in Baltimore exemplify the immense social inequality that is the defining feature of American society. As a whole, it is ranked the sixth poorest city in the country. In the Sandtown-Winchester area where Gray was arrested, more than half of the working-age population is unemployed, and a third of all residential properties are vacant or abandoned. A report put out by the city in 2011 found that nearly a third of all families in the neighborhood live in poverty.

To regulate this social catastrophe, the police have been armed to the teeth and given free rein to terrorize the population. Arrests, beatings and harassment are a daily reality. A report by the Baltimore Sun last year found that the city paid out $5.7 million since 2011 over lawsuits related to police violence. “Officers have battered dozens of residents who suffered broken bones—jaws, noses, arms, legs, ankles—head trauma, organ failure, and even death, coming during questionable arrests,” the newspaper reported.

While the vast majority of the population in Sandtown-Winchester is African-American, the fundamental division in Baltimore—as in American society as a whole—is class, not race. Like many urban centers, Baltimore is run by a predominantly black political elite, including the mayor, the city council president, the police chief, the top prosecutor and many others. Half of the police force is black as well.

Baltimore Mayor Stephanie Rawlings-Blake—who led the charge in denouncing Baltimore youth as “thugs” earlier this week—personifies a layer of the African-American upper middle class that has become part the Democratic Party political establishment and attained positions of power and privilege. The daughter of a longtime Maryland politician, Rawlings-Blake has worked closely with the city’s business elite to develop and gentrify sections of downtown, while areas like West Baltimore have been laid to waste.

It is now a half century since the wave of urban uprisings that swept the United States in the late 1960s—including in Baltimore and countless other cities following the assassination of Martin Luther King, Jr. in April 1968.

The rebellions in the 1960s came during the last gasp of liberal reformism in the United States. Over the past 50 years, the ruling class has gone on the offensive, carrying out a relentless assault on jobs, wages and living standards. Social inequality has soared to levels not seen since before the Great Depression of the 1930s. Cities like Baltimore have been deindustrialized, with entire sectors of the economy wiped out.

To facilitate the war on the working class, the ruling class worked deliberately to integrate a small minority of the African-American middle class into the mechanisms of state power, including through policies such as affirmative action. Meanwhile, conditions for the vast majority of African-American workers and youth are worse today than they were in the 1960s.

Obama himself represents the culmination of this process. The first African-American president has presided over an unprecedented transfer of wealth to the top one percent, unending war abroad and an assault on the most basic democratic rights. Since the economic crisis of 2008, unlimited resources have been funneled to the banks and Wall Street. The stock market and corporate profits are at record highs, while the administration has spearheaded the assault on wages, public education, health care and the conditions of life of the working class as a whole.

Since 2009, nearly all income gains in the United States have been captured by the top one percent of the population, with the 400 wealthiest individuals in the country now controlling a staggering $2.29 trillion. More than $600 billion a year is devoted to financing the US military juggernaut, yet in cities like Baltimore and Detroit thousands of households are being shut off from running water, the most basic necessity of modern life.

There are no political mechanisms within the political system through which any of the grievances of the vast majority of the population can find expression. Everything that has passed for “progressive” or “left” politics—including the politics of race—has been exposed by events. It is precisely this that terrifies the ruling class, and explains its ever more direct resort to force and violence.

The rights of the working class can be achieved only through revolutionary struggle, uniting workers of all races in an independent political movement in opposition to the Democratic and Republican Parties and the capitalist profit system they defend.

The SEP calls for the mobilization of the entire working class in defense of the workers and youth of Baltimore. The same police-state apparatus, trained in Iraq and Afghanistan, that terrorizes the population of Baltimore and has been called out to suppress popular protests is and will be deployed against all opposition to the policies of the corporate and financial aristocracy.

Mass meetings and demonstrations should be organized throughout the country to demand the immediate arrest of Gray’s killers, the lifting of the state of emergency in Baltimore and the withdrawal of the National Guard and the demobilization of the police. These democratic demands should be linked to a program that advances the social rights of the entire working class—including a massive redistribution of wealth to provide decent-paying jobs, education and health care for all.
Nothing can be achieved without a frontal assault on the domination of society by a financial aristocracy that is determined to maintain its stranglehold through violence and terror. Their grip over economic and political life must be broken through the establishment of a society based on public ownership and democratic control of the forces of production. To implement this program, the working class must take political power—in the United States and internationally.

The solution to the crisis confronting workers depends on the construction of an independent, socialist leadership of the working class. It is to build this leadership that the International Committee of the Fourth International has organized the International May Day Online Rally, to be held on Sunday, May 3. We call on all workers and youth to make plans to participate today.

“A more recent national survey by the Federal Reserve, based on 2013 data, suggests the problem has not only persisted as the economy recovered but may even have worsened. More than 30 percent of Americans reported spikes and dips in their incomes. Among that group, 42 percent cited an irregular work schedule; an additional 27 percent blamed a span of joblessness or seasonal work.”

“In the two advanced countries with the greatest income inequality, Spain and the United States, job losses and wage cuts accounted for nearly all the increase in inequality.”

“The Bureau of Labor Statistics’ March job’s data released Friday — as in previous months — again shows that net employment growth in the U.S. since the beginning of the recession has gone to foreign-born workers.”

“From the beginning of the recession in December of 2007 through March of this year, while the native-born population has experienced a net decline in employment, their foreign-born counterparts have experienced a net increase.”

OBAMA IN SELMA: Is it his biggest hoax and lie to date?

"The lies and demagogy in Obama’s Selma speech cannot conceal the huge class gulf between the government he heads and the self-sacrificing workers and youth who led the fight for civil rights. They fought for equality. He represents privilege."

Capitalism, the working class and the fight against police violence

1 May 2015

The events in Baltimore, Maryland following the police killing of 25-year-old Freddie Gray mark a political turning point in the United States. The enormous class divide in America, the bankruptcy of the entire political system and the collapse of democratic forms of rule—all have been laid bare by this latest act of state brutality and the military-police mobilization against the eruption of social anger.
In recent days, thousands of people have participated in demonstrations in Baltimore, New York, Philadelphia and other cities throughout the country. Further protests will take place today and over the weekend. While the police violence is the immediate spark, far deeper issues are involved: mass unemployment, poverty, the decay of cities and social infrastructure, and unprecedented levels of social inequality.

The entire political superstructure has responded to the unrest in Baltimore by backing the deployment of thousands of troops from the National Guard, a branch of the armed forces. Baltimore, only 40 miles from the nation’s capital, has effectively been occupied, with heavily armed units placed in key public locations throughout the city, accompanied by armored vehicles and military helicopters. A state of emergency has been declared, and a curfew imposed on all residents.

The actions in Baltimore come half a year after the crackdown in Ferguson, Missouri last August, when the city was turned into a war zone in response to demonstrations over the police killing of Michael Brown. The state violence was repeated later in the year, following a rigged grand jury proceeding that exonerated Brown’s killer.

The irony is hard to miss. The United States government, which wages war all over the world on the phony pretext of defending “democracy” and “human rights,” increasingly relies on the methods of martial law in response to any indication of social unrest within its borders.

Conditions in Baltimore exemplify the immense social inequality that is the defining feature of American society. As a whole, it is ranked the sixth poorest city in the country. In the Sandtown-Winchester area where Gray was arrested, more than half of the working-age population is unemployed, and a third of all residential properties are vacant or abandoned. A report put out by the city in 2011 found that nearly a third of all families in the neighborhood live in poverty.

To regulate this social catastrophe, the police have been armed to the teeth and given free rein to terrorize the population. Arrests, beatings and harassment are a daily reality. A report by the Baltimore Sun last year found that the city paid out $5.7 million since 2011 over lawsuits related to police violence. “Officers have battered dozens of residents who suffered broken bones—jaws, noses, arms, legs, ankles—head trauma, organ failure, and even death, coming during questionable arrests,” the newspaper reported.

While the vast majority of the population in Sandtown-Winchester is African-American, the fundamental division in Baltimore—as in American society as a whole—is class, not race. Like many urban centers, Baltimore is run by a predominantly black political elite, including the mayor, the city council president, the police chief, the top prosecutor and many others. Half of the police force is black as well.

Baltimore Mayor Stephanie Rawlings-Blake—who led the charge in denouncing Baltimore youth as “thugs” earlier this week—personifies a layer of the African-American upper middle class that has become part the Democratic Party political establishment and attained positions of power and privilege. The daughter of a longtime Maryland politician, Rawlings-Blake has worked closely with the city’s business elite to develop and gentrify sections of downtown, while areas like West Baltimore have been laid to waste.

It is now a half century since the wave of urban uprisings that swept the United States in the late 1960s—including in Baltimore and countless other cities following the assassination of Martin Luther King, Jr. in April 1968.

The rebellions in the 1960s came during the last gasp of liberal reformism in the United States. Over the past 50 years, the ruling class has gone on the offensive, carrying out a relentless assault on jobs, wages and living standards. Social inequality has soared to levels not seen since before the Great Depression of the 1930s. Cities like Baltimore have been deindustrialized, with entire sectors of the economy wiped out.

To facilitate the war on the working class, the ruling class worked deliberately to integrate a small minority of the African-American middle class into the mechanisms of state power, including through policies such as affirmative action. Meanwhile, conditions for the vast majority of African-American workers and youth are worse today than they were in the 1960s.

Obama himself represents the culmination of this process. The first African-American president has presided over an unprecedented transfer of wealth to the top one percent, unending war abroad and an assault on the most basic democratic rights. Since the economic crisis of 2008, unlimited resources have been funneled to the banks and Wall Street. The stock market and corporate profits are at record highs, while the administration has spearheaded the assault on wages, public education, health care and the conditions of life of the working class as a whole.

Since 2009, nearly all income gains in the United States have been captured by the top one percent of the population, with the 400 wealthiest individuals in the country now controlling a staggering $2.29 trillion. More than $600 billion a year is devoted to financing the US military juggernaut, yet in cities like Baltimore and Detroit thousands of households are being shut off from running water, the most basic necessity of modern life.

There are no political mechanisms within the political system through which any of the grievances of the vast majority of the population can find expression. Everything that has passed for “progressive” or “left” politics—including the politics of race—has been exposed by events. It is precisely this that terrifies the ruling class, and explains its ever more direct resort to force and violence.

The rights of the working class can be achieved only through revolutionary struggle, uniting workers of all races in an independent political movement in opposition to the Democratic and Republican Parties and the capitalist profit system they defend.

The SEP calls for the mobilization of the entire working class in defense of the workers and youth of Baltimore. The same police-state apparatus, trained in Iraq and Afghanistan, that terrorizes the population of Baltimore and has been called out to suppress popular protests is and will be deployed against all opposition to the policies of the corporate and financial aristocracy.

Mass meetings and demonstrations should be organized throughout the country to demand the immediate arrest of Gray’s killers, the lifting of the state of emergency in Baltimore and the withdrawal of the National Guard and the demobilization of the police. These democratic demands should be linked to a program that advances the social rights of the entire working class—including a massive redistribution of wealth to provide decent-paying jobs, education and health care for all.
Nothing can be achieved without a frontal assault on the domination of society by a financial aristocracy that is determined to maintain its stranglehold through violence and terror. Their grip over economic and political life must be broken through the establishment of a society based on public ownership and democratic control of the forces of production. To implement this program, the working class must take political power—in the United States and internationally.

The solution to the crisis confronting workers depends on the construction of an independent, socialist leadership of the working class. It is to build this leadership that the International Committee of the Fourth International has organized the International May Day Online Rally, to be held on Sunday, May 3. We call on all workers and youth to make plans to participate today.

“A more recent national survey by the
Federal Reserve, based on 2013 data, suggests the problem has not only
persisted as the economy recovered but may even have worsened. More than 30
percent of Americans reported spikes and dips in their incomes. Among that
group, 42 percent cited an irregular work schedule; an additional 27 percent
blamed a span of joblessness or seasonal work.”

“In the two advanced countries with the greatest income
inequality, Spain and the United States, job losses and wage cuts accounted for nearly all the
increase in inequality.”

“The Bureau of
Labor Statistics’ March job’s data released Friday — as in previous months — again shows that net
employment growth in the U.S. since the beginning of the recession has gone to
foreign-born workers.”

“From the
beginning of the recession in December of 2007 through March of this year,
while the native-born population has experienced a net decline in employment,
their foreign-born counterparts have experienced a net increase.”

“A more recent national survey by the Federal Reserve, based on 2013 data, suggests the problem has not only persisted as the economy recovered but may even have worsened. More than 30 percent of Americans reported spikes and dips in their incomes. Among that group, 42 percent cited an irregular work schedule; an additional 27 percent blamed a span of joblessness or seasonal work.”

“In the two advanced countries with the greatest income inequality, Spain and the United States, job losses and wage cuts accounted for nearly all the increase in inequality.”

“The Bureau of Labor Statistics’ March job’s data released Friday — as in previous months — again shows that net employment growth in the U.S. since the beginning of the recession has gone to foreign-born workers.”

“From the beginning of the recession in December of 2007 through March of this year, while the native-born population has experienced a net decline in employment, their foreign-born counterparts have experienced a net increase.”

OBAMA IN SELMA: Is it his biggest hoax and
lie to date?

"The lies and
demagogy in Obama’s Selma speech cannot conceal the huge class gulf between the
government he heads and the self-sacrificing workers and youth who led the
fight for civil rights. They fought for equality. He represents
privilege."

“As a result of the
soaring stock market, the 400 richest individuals in the United States, whose
wealth has doubled since 2009—the era of Obama. They now have a combined net
worth of $2.29 trillion, larger than the annual output of the 130 poorest
countries in the world.”

Britain’s super-rich have doubled their wealth since 2009

By Robert Stevens 30 April 2015

The annual Sunday Times Rich List reveals that the UK has more billionaires per head of population than any other country. There are now a record 117 billionaires among the country’s top 1,000 richest people.

The total wealth of just the billionaires on the list is a staggering £325.131 billion. Within the space of a year, the top 1,000, as a whole, have increased their total wealth by 5.4 percent to a record £547.126 billion. Last year, the figure stood at 104 billionaires and £519 billion—one third of the country’s GDP.

The Rich List, first published in 1989, but in its 18th year in its current form, is always an underestimation of the wealth of the super-rich as it includes land, property, assets, and significant shares but excludes cash in bank accounts.

This year’s list reveals the extent to which the global financial elite ensured that the world’s population has been forced to bear the entire burden of the 2008 financial crash. In the years since, the super-rich in the UK have more than doubled their wealth, which stood at £258 billion in 2009 (an increase of 112 percent). The number of billionaires has grown by 12 percent in the last year, by 172 percent since 2009, and, as the Sunday Times notes, they “are far wealthier than many of them dared to hope seven years ago”.

The list, writes the Times, “confirms that Britain is more attractive to the global super-rich than any country except America. There are so many billionaires based here now, they outnumber those in mainland China, whose economy is four times larger than ours.”

It notes, “Mainland China is home to 115 sterling billionaires, who are collectively worth £24bn less.”
It continues, “Although the United States has the highest overall number of sterling billionaires of any country at 384, Britain’s smaller population means it boasts more per head than any other country in the G20 group of the world’s biggest economies—one billionaire for every 547,000 Britons, compared with one for every 833,000 Americans. London, where most of Britain’s billionaires are based, has more than any other city—80—who enjoy a collective wealth of £258bn. The capital’s nearest European rival, Paris, has just 21.”

The Times ’ front page article on the Rich List began “Recession? What recession? Britain’s super-rich have powered through the economic crisis and are now more than twice as rich as they were in 2009 when the economy was on the rocks…”

In the same period workers, pensioners and young people have suffered the impact of brutal austerity, with tens of billions of pounds slashed from public spending. In comparison, the income of the super-rich only fell once during that period (in 2009 when it fell by 37 percent to £258 billion) and their wealth is now growing at a record rate. The Sunday Times notes, “The rise has been greatest in the past 12 months. You need £100m to get on the list this year. That is £45m more than in 2009 and £15m more than last year…”

Vast amounts of the wealth accumulated by the super-rich are the product of speculation and outright criminality, with London being one of the world’s leading centres of financial swindling. The Sunday Times notes, “Most of the billionaires based in London are from abroad, but choose to live or base their businesses in the capital. London is a magnet for the super-rich because of its low taxes (for now)… The rise in the wealth of the top 1,000 is so sharp this year thanks to booming stock markets. Both the FTSE 100 and the Dow Jones Industrial Average have hit record highs in the past 12 months.”
The rapid emergence of this layer is illustrated by the fact that the queen, who was listed as the richest individual in 1989, is now not even among the top 300. The Times notes that although her wealth increased by £10 million this year to £340 million, she represents “old money.”

The richest individual on the list is the Ukrainian-born and Harvard-trained Len Blavatnik, who has investments in industry, music, and media, and is worth £13.17 billion, up £3.17 billion on 2014. Among the firms Blavatnik has investments in is LyondellBasell, one of the oil refinery companies with which workers in the United States were recently involved in a bitter struggle.

In the case of individuals such as Blavatnik, who made his initial fortune by participating in the pillage of the nationalised state assets of the Soviet Union following its dissolution in 1991, the adage of Balzac that “behind every great fortune there is a great crime” was never more apt.

A Forbes article last year noted, “In the history of Wall Street there haven’t been too many moneymaking machines quite like LyondellBasell, which has seen its shares return 500 percent since it emerged from bankruptcy four years ago. And that’s been especially lucrative for Blavatnik, 57, who cobbled the company together, saw it fail and plunge into bankruptcy court, and then doubled down on the same assets, personally investing another $2.37 billion in LyondellBasell the second time around. His investment is now worth more than $10 billion, generating $8 billion in mostly unrealized personal profits.”

The World Socialist Web Site noted, “These vast sums have been made through the brutal exploitation of oil workers facilitated by the [United Steel Workers] and other unions in the global industry.”
Another oligarch, placed at number four on the list, is the Uzbekistan-born Alisher Usmanov, who owns a stake of almost 30 percent in the leading London Premier League team, Arsenal FC. Usmanov is worth £9.8 billion, even though the value of his mining and other interests fell by £850 million over the past year, partly because of the West’s sanctions against Russia and collapse of the rouble.
So rich is this miniscule layer of parasites that servicing their whims is a lucrative industry in itself. The Daily Telegraph commented on Ten Group, “which has two million high-net-worth members worldwide” and “has spent around £36.5m of its clients’ money in the past 12 months.”

Reading the media’s commentary, one is left with the distinct impression that they consider the existence of this fetid, anti-social layer to be so entrenched and “normal” that it is barely worth discussing anymore. The BBC’s article on the list totalled just 270 words.

In its front-page article, the Sunday Times itself refers to a “wealth gap” that “has become a chasm.” But the gap it refers to is the disparity between the number of billionaires in the “capital and the rest of the country”! It commented that “there are only 37 billionaires based outside London and their collective wealth is £67bn—£191bn less than the London total of £258bn.”

The grotesque levels of wealth recorded in the Rich List speak to the enormous gulf between the super-rich and everyone else. But that is no longer considered a subject of journalistic comment.

THE LOOTING OF AMERICA: BARACK OBAMA AND HIS CRONY
BANKSTERS set themselves on America’s pensions next!

The new aristocrats,
like the lords of old, are not bound by the laws that apply to the lower
orders. Voluminous reports have been issued by Congress and government panels
documenting systematic fraud and law breaking carried out by the biggest banks
both before and after the Wall Street crash of 2008.

Goldman
Sachs, JPMorgan Chase, Bank of America and every other major US bank have been
implicated in a web of scandals, including the sale of toxic mortgage
securities on false pretenses, the rigging of international interest rates and
global foreign exchange markets, the laundering of Mexican drug money, accounting
fraud and lying to bank regulators, illegally foreclosing on the homes of
delinquent borrowers, credit card fraud, illegal debt-collection practices,
rigging of energy markets, and complicity in the Bernie Madoff Ponzi scheme.

MUCH, MUCH MORE ON
OBAMA’S ECONOMIC CRIMES PERPETRATED ON BEHALF OF HIS CRONIES ON THE AMERICAN
MIDDLE-CLASS

One
government-organized settlement has followed another, utilizing “deferred
prosecution” deals and other gimmicks to allow Wall Street CEOs to get off
scot-free. All the banks have had to do is pay largely fictitious fines, much
of the nominal amount written off as tax credits.

Hillary has declared bankster
looting will see even greater rewards from her administration!

THE DEMOCRAT PARTY: BANKSTER-FUNDED PARTY FOR OPEN BORDERS, MEX WELFARE, NO
LEGAL NEED APPLY and LA RAZA SUPREMACY!

SEN. JEFF SESSIONS (R)

“No party can win without working and
middle class voters. The path forward for the GOP is to become the party
of the American worker. The party of higher wages. The party of full
employment.

The Democratic Party has already cast
its lot: its members have endlessly enabled the President’s anti-worker policies,
including his wage-cutting agenda of uncontrolled immigration and the bleeding
of American manufacturing wealth overseas.”

"Notwithstanding these powerful trends, the stock
markets continue to power on, providing a graphic demonstration of the degree
to which the accumulation of wealth by global financial elites has become
divorced from the actual process of production."

STAGGERING EXPLOSION OF POVERTY IN AMERICA …
as Obama eases millions of illegals into our jobs and hands them billions in
welfare!

“A more recent national survey by the
Federal Reserve, based on 2013 data, suggests the problem has not only
persisted as the economy recovered but may even have worsened. More than 30
percent of Americans reported spikes and dips in their incomes. Among that
group, 42 percent cited an irregular work schedule; an additional 27 percent
blamed a span of joblessness or seasonal work.”

“In the two advanced countries with the greatest income
inequality, Spain and the United States, job losses and wage cuts accounted for nearly all the
increase in inequality.”

“The Bureau of
Labor Statistics’ March job’s data released Friday — as in previous months — again shows that net
employment growth in the U.S. since the beginning of the recession has gone to
foreign-born workers.”

“From the
beginning of the recession in December of 2007 through March of this year,
while the native-born population has experienced a net decline in employment,
their foreign-born counterparts have experienced a net increase.”

* On Tuesday, helicopter maker Bell Helicopter announced 1,100 layoffs at its facility in Lafayette, Indiana.

* On Friday, Pennsylvania-based software developer Unisys announced plans to slash 8 percent of its global workforce, including 1,800 workers in North America.

* On April 24, pharmaceutical company Procter & Gamble announced that it would eliminate up to 6,000 office jobs worldwide. Since 2012, the company has slashed more than 20,000 office and manufacturing jobs.

* On April 20, United States Steel Corp. issued layoffs to 1,404 employees, concentrated mostly in Texas. Since June, the company has announced plans to eliminate 7,800 US positions, according to the Pittsburgh Business Times.

* That same day, oilfield services company Halliburton said it had cut 9,000 jobs, amounting to over ten percent of its workforce.

* On April 16, Halliburton's rival Schlumberger announced another 11,000 job cuts, on top of the 9,000 it implemented in January.

The negative figures follow the announcement by the Labor Department earlier this month that the US economy added only 126,000 jobs in March, the smallest job growth since 2013. The March figure was half the number predicted by economists.

OBAMA’S CRONY BANKSTER-DRIVEN ECONOMY

First
hesabotaged America’s borders and then
invited endless waves of illegals to grab America’s jobs and keep wages
depressed.

Then
he went after America’s pensions, medicare and social security towards his
design of destroying the American middle-class.

“Goldman
Sachs, JPMorgan Chase, Bank of America (ALL MAJOR DONORS TO BARACK OBAMA) and
every other major US bank have been implicated in a web of scandals, including
the sale of toxic mortgage securities on false pretenses, the rigging of
international interest rates and global foreign exchange markets, the
laundering of Mexican drug money, accounting fraud and lying to bank
regulators, illegally foreclosing on the homes of delinquent borrowers, credit
card fraud, illegal debt-collection practices, rigging of energy markets, and
complicity in the Bernie Madoff Ponzi
scheme.”

HILLARY CLINTON: A
dedicated disciple of OBAMANOMICS – Why else would his banksters invest so much
in her???

“That her candidacy is announced without calling for
any particular policies underscores the fact that the election is not about the
American people deciding the course of policy, but rather the vetting of
candidates to serve the interest of the financial oligarchy.”

“There is, of course, no acknowledgment that Clinton was part
of an administration that oversaw and continues to oversee the greatest
transfer of wealth from the bottom to “those at the top” in US history.”

HILLARY CLINTON: GLOBAL LOOTER LIKE A THIRD-WORLD DICTATOR IN
THE MAKING!

“This
decision wasn’t made because of the Clinton Foundation’s remarkably lucrative
sideline as a uranium superstore for Russian strongmen, but because its
finances are opaque and dishonest, and because such a tiny amount of the money
it rakes in actually goes to charitable endeavors. “The Clinton family’s
mega-charity took in more than $140 million in grants and pledges in 2013 but
spent just $9 million on direct aid,” notes the New York Post. “The
group spent the bulk of its windfall on administration, travel, and salaries
and bonuses, WITH THE FATTEST PAYOUTS GOING TO FAMILY FRIENDS.”

Hillary Clinton bellies with the 9-11 invading Saudi
dictatorship like Obama. She’s collected her bribes for pushing the Bush-Saudi
wars against Iraq and Obama smells the dirty Saudis loot coming for his
presidential libaray!

“Schweizer said he had found “a pattern of behavior…the
proof is, you look at a series of actions in which money flows to the Clintons,
either through speaking fees or Clinton Foundation donors.”

IMF PREDICTS THAT OBAMANOMICS and the GLOBAL LOOTING BY
OBAMA’S CRIMINAL CRONY BANKSTERS WILL SOON DESTROY THE AMERICAN ECONOMY.

The International Monetary Fund
warned Wednesday that the world economy would remain locked in a pattern of
slow growth, high unemployment and high debt for a prolonged period. The
forecast, contained in the organization’s updated World Economic Outlook (WEO),
marks a shift from previous economic projections in acknowledging that there is
little prospect of a return to the growth levels that prevailed prior to the
2008 Wall Street crash.

The document’s grim analysis
amounts to a tacit acknowledgement that the crisis ushered in nearly seven
years ago by the financial meltdown is of a historical and fundamental
character, and that the underlying problems in the global capitalist system
have not been resolved.

T

HE ASSAULT on the
AMERICAN MIDDLE-CLASS by theDEMOCRAT PARTY:

“By large margins, even in opinion
polls conducted by the corporate-controlled media, the American people support
sharp increases in taxes on the wealthy to fund social programs and provide
jobs for the unemployed; they oppose cuts in Social Security and Medicare and
view education, health care and other public services as basic rights; they
oppose government spying on the telephone and Internet usage of ordinary
Americans, as well as other police-state measures; and they oppose overseas
military interventions in the Middle East, Africa and Asia. The Democratic and Republican presidential candidates stand on the other
side of the barricades on all these issues.”

The new aristocrats,
like the lords of old, are not bound by the laws that apply to the lower
orders. Voluminous reports have been issued by Congress and government panels
documenting systematic fraud and law breaking carried out by the biggest banks
both before and after the Wall Street crash of 2008.

Goldman
Sachs, JPMorgan Chase, Bank of America and every other major US bank have been
implicated in a web of scandals, including the sale of toxic mortgage
securities on false pretenses, the rigging of international interest rates and
global foreign exchange markets, the laundering of Mexican drug money, accounting
fraud and lying to bank regulators, illegally foreclosing on the homes of
delinquent borrowers, credit card fraud, illegal debt-collection practices,
rigging of energy markets, and complicity in the Bernie Madoff Ponzi scheme.

MUCH, MUCH MORE ON
OBAMA’S ECONOMIC CRIMES PERPETRATED ON BEHALF OF HIS CRONIES ON THE AMERICAN
MIDDLE-CLASS

One
government-organized settlement has followed another, utilizing “deferred
prosecution” deals and other gimmicks to allow Wall Street CEOs to get off
scot-free. All the banks have had to do is pay largely fictitious fines, much
of the nominal amount written off as tax credits.

“A more recent national survey by the Federal Reserve, based on 2013 data, suggests the problem has not only persisted as the economy recovered but may even have worsened. More than 30 percent of Americans reported spikes and dips in their incomes. Among that group, 42 percent cited an irregular work schedule; an additional 27 percent blamed a span of joblessness or seasonal work.”

“In the two advanced countries with the greatest income inequality, Spain and the United States, job losses and wage cuts accounted for nearly all the increase in inequality.”

“The Bureau of Labor Statistics’ March job’s data released Friday — as in previous months — again shows that net employment growth in the U.S. since the beginning of the recession has gone to foreign-born workers.”

“From the beginning of the recession in December of 2007 through March of this year, while the native-born population has experienced a net decline in employment, their foreign-born counterparts have experienced a net increase.”